Matford was a French automotive manufacturer established as a joint venture in 1934 by local firm Mathis and US-based Ford Motor Company . The name Matford derived from both companies' names. The company ceased activities in 1940.
107-759: In the early 1930s, the Ford Motor Company was quickly expanding its European production, while Mathis S.A. had financial problems, but also a large, underutilized factory at Strasbourg (which, following frontier changes formalized in 1919 , was now in France). Ford were keen to increase production and the Mathis plant in Strasbourg seemed more suitable than their existing workshop in Asnières-sur-Seine . A joint venture between Ford and Mathis
214-546: A new Ford plant was opened at Poissy , near Paris, in 1940. Ford's links with Mathis were severed. Ford's French business was restructured in 1940, now taking the name Ford Société Anonyme Française and this company used the Ford trademark. Émile Mathis , fearing persecution under German occupation , escaped to the United States where he spent the war , while Matford ceased to exist. Matford cars achieved success at
321-667: A vehicle subscription offering called Care by Volvo , which offers the Volvo XC40 for a monthly payment that includes insurance and maintenance. Care by Volvo is offered in several European markets, such as Germany, the UK and Italy, as well as in the U.S. In February 2020, Volvo and Geely announced that they had started formal discussions about a merger of business. Geely had owned 100% of Volvo, but Volvo Cars had largely been allowed autonomy with its resources. These merger talks were later halted, and 18% of Volvo Cars shares were listed on
428-611: A "vote of confidence" because of the pro-business climate being fostered in part by President-elect Donald Trump , Ford had canceled plans to invest $ 1.6 billion in a new plant in Mexico to manufacture the Ford Focus ; instead, the company would invest $ 700 million in Michigan , which it planned to use to create 700 new jobs. The Focus would now be manufactured in the existing plant in Mexico. Also in 2017, Ford began development of
535-503: A $ 2.7 billion profit in fiscal year 2009, the company's first full-year profit in four years. In 2012, Ford's corporate bonds were upgraded from junk to investment grade again, citing sustainable, lasting improvements. On October 29, 2012, Ford announced the sale of its climate control components business, its last remaining automotive components operation, to Detroit Thermal Systems LLC for an undisclosed price. On November 1, 2012, Ford announced that CEO Alan Mulally would stay with
642-685: A 32% stake in China's Jiangling Motors . The Henry Ford Company was Henry Ford's first attempt at a car manufacturing company and was established on November 3, 1901. This became the Cadillac Motor Company on August 22, 1902, after Ford left with the rights to his name. In 1903, the Ford Motor Company was launched in a converted factory, with $ 28,000, equivalent to $ 950,000 in 2023, in cash from twelve investors, most notably John and Horace Dodge , who later founded
749-409: A Volvo spokesman, denied that the company's vehicles were any less safe than the institute's top-rated vehicles, adding that It's just a philosophy on safety that is different from building cars to pass these kinds of tests. In 2006, Volvo's Personal Car Communicator (PCC) remote control was launched as an optional feature with the all-new Volvo S80 . Before a driver enters their car, they can review
856-402: A decade the company led the world in the expansion and refinement of the assembly line concept, and Ford soon brought much of the part production in-house, via vertical integration . Henry Ford was 39 years old when he founded the Ford Motor Company, which became one of the world's largest and most profitable companies. It has been in continuous family control for over 100 years, and is one of
963-806: A driver that killed two men while using BlueCruise. In November 2024, Ford announced that it would cut 800 jobs in the UK and 2,900 in Germany to try and reduce costs. The key trends for the Ford Motor Company are (as of the financial year ending December 31): Members of the Ford board as of March 2023 are: William Clay Ford Jr. (executive chairman), Jim Farley (president and CEO), Kimberly Casiano , Alexandra Ford English (daughter of William Clay Ford Jr.), Henry Ford III (son of Edsel Ford II ), William W. Helman IV, Jon Huntsman Jr. , William E. Kennard , John C. May, Beth E. Mooney , John L. Thornton , John Veihmeyer , Lynn Vojvodich Radakovich, and John S. Weinberg. Jim Farley succeeded Jim Hackett as
1070-603: A joint venture with Geely. In 2023, Volvo removed conventional engines as an option, meaning mild hybrids are the base engine option in the US. Volvo Cars owns 18% of Polestar and 50% of NOVO Energy ( electric vehicle batteries ), 100% of Zenseact (AD and ADAS software), and 100% of HaleyTek (Android-based infotainment systems). As of 2022, Volvo Cars has production plants in Torslanda in Sweden, Ridgeville, South Carolina in
1177-757: A loss to Geely Holding for $ 1.8 billion; the deal closed in August 2010. Volvo Cars was publicly listed on the Nasdaq Stockholm stock exchange in 2021, though Geely Holding still retains majority ownership. Volvo Cars and AB Volvo share the Volvo logo, and cooperate in running the Volvo Museum . In March 2021, Volvo Cars announced that it would be a fully electric brand by 2030, with vehicles sold exclusively online. In June 2021, Volvo Cars and Swedish battery developer and manufacturer Northvolt announced
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#17327796475491284-479: A new mixed-use urban campus in the Corktown neighborhood of Detroit , with its purchase, renovation, and occupation of The Factory at Michigan and Rosa Parks. The new site was expected to have a major focus on the development of autonomous vehicle and electric vehicle technology. Ford later began buying up other parcels of land in Corktown including a very high-profile purchase of Michigan Central Station which
1391-443: A plan to return the company to profitability. Fields previewed the plan, named The Way Forward , at the board meeting of the company on December 7, 2005, and it was unveiled to the public on January 23, 2006. "The Way Forward" included resizing the company to match market realities, dropping some unprofitable and inefficient models, consolidating production lines, closing 14 factories and cutting 30,000 jobs. Ford moved to introduce
1498-508: A range of new vehicles, including " Crossover SUVs " built on unibody car platforms, rather than more body-on-frame chassis. In developing the hybrid electric powertrain technologies for the Ford Escape Hybrid SUV, the company licensed similar Toyota hybrid technologies in order to avoid patent infringements. Ford announced that it would team up with electricity supply company Southern California Edison (SCE) to examine
1605-440: A result of high U.S. health care costs for an aging workforce , soaring gasoline prices, eroding market share, and an overdependence on declining SUV sales. Profit margins decreased on large vehicles due to increased "incentives" (in the form of rebates or low-interest financing) to offset declining demand. In the latter half of 2005, Chairman Bill Ford asked newly appointed Ford Americas Division President Mark Fields to develop
1712-491: A self-driving car startup. In May 2017, Ford announced cuts to its global workforce amid efforts to address the company's declining share price and to improve profits. The company is targeting $ 3 billion in cost reduction and a nearly 10% reduction in the salaried workforce in Asia and North America to enhance earnings in 2018. Jim Hackett was announced to replace Mark Fields as CEO of Ford Motor. Mr. Hackett most recently oversaw
1819-592: A shared ownership of Volvo Cars, as part of a larger consortium. Other rumored candidates to purchase Volvo Cars included BMW AG of Germany, Investor AB of Sweden, Chinese investors, and Russian investors. Although it was rumoured that Volkswagen would buy Volvo Cars, and despite initial denials, the company Geely Holding Group was ultimately selected to take over the Swedish automaker. Geely Holding allegedly bid about US$ 1.5 billion to take over Volvo, with Goldman Sachs investing HK$ 2.59 billion (US$ 334 million) in
1926-462: A standard deep-dish steering wheel, optional front, and, for the first time in a car, rear seatbelts, and an optional padded dash. Ford introduced child-proof door locks into its products in 1957, and, in the same year, offered the first retractable hardtop on a mass-produced six-seater car. In late 1955, Ford established the Continental division as a separate luxury car division. This division
2033-491: A ten-year building project. The result would see the number of Ford employees working in these areas doubling, to 24,000. During construction, some 2000 of the employees were relocated out of the campus to a temporary location in a disused section of the local shopping mall. Facilities would also be altered to allow ride-sharing and electric and self-driving vehicles. Estimates of the construction cost were $ 1.2 billion. On January 3, 2017, Ford CEO Mark Fields announced that in
2140-544: Is Latin for 'I roll') was first registered by SKF on 11 May 1915 with the intention to use it for a special series of ball bearing for the American market but it was never used for this purpose (however in the application for the trademark, it was also designated for the purpose of automobiles ). The SKF trademark as it looks today was used instead for all the SKF-products. Some pre-series of Volvo-bearings stamped with
2247-413: Is 129 km/h (80 mph). BlueCruise uses sensors and cameras to regulate the car's speed and to keep track of speed limits and road signs. It also monitors and keeps a safe distance from other vehicles. It also comes equipped with an eye-tracking system. If the driver stops looking at the road then the car will gradually reduce its speed. This technology will initially be offered in Ford's 2023 model of
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#17327796475492354-544: Is a driver safety program aimed at teens that were developed together with the Governors Highway Safety Association and safety experts. The Ford Volunteer Corps allows Ford employees and retirees to sign up for volunteering work on local projects in more than 40 countries. The organization invests $ 18 million annually in education in the United States and around the world, but accepts applications only from nonprofit organizations registered in
2461-576: Is headquartered in Torslanda , Gothenburg . The company manufactures SUVs , station wagons , and sedans . The company's main marketing revolves around safety and its Swedish heritage and design. Volvo Cars has been separate from its former parent conglomerate and producer of heavy trucks , buses , and construction equipment (among others) AB Volvo since 1999 when AB Volvo sold its automobile division Volvo Cars to Ford Motor Company for US$ 6.47 billion. On 28 March 2010, Ford sold Volvo Cars at
2568-524: Is listed on the New York Stock Exchange and is controlled by the Ford family . They have minority ownership but a plurality of the voting power. Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines . By 1914, these methods were known around
2675-632: Is not an option". Ford and the United Auto Workers , representing approximately 46,000 hourly workers in North America, agreed to a historic contract settlement in November 2007 giving the company a substantial break in terms of its ongoing retiree health care costs and other economic issues. The agreement included the establishment of a company-funded, independently run Voluntary Employee Beneficiary Association (VEBA) trust to shift
2782-507: Is planned to become the hub of their Corktown campus, and the adjacent Roosevelt Warehouse . Ford expects to move 2,500 of its employees, roughly 5 percent of its southeast Michigan workforce, to the campus with space for an additional 2,500 entrepreneurs, technology companies and partners. Bill Ford envisioned the first-floor concourse of the train station to be a public gathering place with retail outlets and restaurants. In February 2017, Ford Motor Co. acquired majority ownership of Argo AI ,
2889-465: Is the second-largest U.S.-based automaker, behind General Motors , and the sixth-largest in the world , behind Toyota , Volkswagen Group , Hyundai Motor Group , Stellantis , and General Motors, based on 2022 vehicle production. At the end of 2010, Ford was the fifth-largest automaker in Europe. The company went public in 1956 but the Ford family, through special Class B shares , retain 40 percent of
2996-432: Is to be rebranded as Ford Pro, to focus on vehicle distribution and service. In August 2022, Ford announced it planned layoffs of roughly 3,000 employees and contract workers, confirming earlier reporting. The cuts would mostly affect divisions in the US, Canada, and India, which Jim Farley said would allow the company to prepare for the future of electric, software-heavy vehicles. In February 2023, Ford announced that it
3103-555: The Blind Spot Information System (BLIS), which detects vehicles entering the vehicle's blind spot with a side-view-mirror-mounted camera, and alerts the driver with a light. That year also saw Volvos sold in all markets equipped with side-marker lights and daytime running lights. Also, since 2004 all Volvo models except for the coupes ( C70 and C30 ) are available with an all-wheel drive system developed by Haldex Traction of Sweden. In 2005, Volvo presented
3210-692: The Dodge Brothers Motor Vehicle Company . The first president was not Ford, but local banker John S. Gray , who was chosen in order to assuage investors' fears that Ford would leave the new company the way he had left its predecessor. During its early years, the company produced just a few cars a day at its factory on Mack Avenue and later at its factory on Piquette Avenue in Detroit , Michigan . Groups of two or three men worked on each car, assembling it from parts made mostly by supplier companies contracting for Ford. Within
3317-509: The Dutch government had participated in a joint venture at the former DAF plant in Born , Netherlands since 1991). Ford saw advantages in acquiring a profitable prestige mid-size European automobile manufacturer, well renowned for its safety aspects, as an addition to its Premier Automotive Group. The buyout of Volvo Cars was announced on 28 January 1999, and in the following year the acquisition
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3424-537: The Ford Foundation ), based in Dearborn, Michigan, is the philanthropic arm of the Ford Motor Company. Established in 1949 by Henry Ford II , the organization is a nonprofit corporate foundation financed by contributions from Ford Motor Company. In 2017, it contributed $ 63 million to various causes with a focus on education, driving safely and community building. The Ford Driving Skills for Life program
3531-748: The Ford Transit and later the Ford Escort and the Ford Capri became common to both companies. In 1970, the Ford Taunus and the Ford Cortina came into production with a common base construction, both models being produced in left hand drive and right hand drive . Later on, the models became identical and the respective models right- and left-hand-drive exclusively. Rationalisation of model ranges meant that production of many models in
3638-870: The Nasdaq Stockholm stock exchange in October 2021. In early 2021 the company announced plans to completely stop selling fossil fuel-based cars by 2030, switching to electric-powered cars. The plan includes phasing out fossil-fuel-only cars by 2025, manufacturing only electric cars or hybrids. In 2021, Volvo Cars set up a joint venture with Geely for its hybrid engine operations. The new business, Aurobay will develop and market powertrain solutions, and as of 2022, includes Volvo Cars' engine plants in Skövde and Zhangjiakou , together with its powertrain research and development operations in Gothenburg . In June 2023, Ukraine blacklisted Geely due to its refusal to leave
3745-580: The Scalable Product Architecture (SPA) , and re-introduced an expanded -90 series of models, including the S90 sedan and Volvo V90 wagon in addition to a redesigned XC90 SUV. In 2015, Volvo sold more than half a million cars for the first time in its 89-year history. Volvo reported strong sales from all three core global regions. Sales in Europe rose 10% in 2015 to 269k, representing over 50% of total global volume. Volvo's revival in
3852-573: The Transit van continued at the company's Southampton facility until mid-2013, engines at Bridgend and Dagenham , and transmissions at Halewood . Development of European Ford is broadly split between Dunton in Essex (powertrain, Fiesta/Ka, and commercial vehicles) and Cologne (body, chassis, electrical, Focus, Mondeo) in Germany. Ford also produced the Thames range of commercial vehicles, although
3959-640: The Uddevalla plant in Sweden was opened, which was jointly operated by Volvo Car Group and Pininfarina Sverige AB from 2005 to 2013. In the early 1970s, Volvo acquired the passenger car division of the Dutch company DAF , and marketed their small cars as Volvos before releasing the Dutch-built Volvo 340 , which went on to be a big seller in the UK market in the 1980s. In 1986 Volvo sold 113,267 cars in
4066-665: The VW Sharan and SEAT Alhambra . With the introduction of the third generation of the Galaxy, Ford has moved the production of the people-carrier to the Genk plant, with Volkswagen taking over sole ownership of the Setúbal facility. Volvo Cars Volvo Car AB , trading as Volvo Cars ( Swedish : Volvo personvagnar , styled VOLVO in the company's logo) is a Swedish multinational manufacturer of luxury vehicles . Volvo
4173-837: The industrialization of that country and consequently the Soviet war effort during World War II . To that end, in 1944, Stalin wrote a letter to the U.S. Chamber of Commerce stating that Henry Ford was "one of the world's greatest industrialists". During World War II, the United States Department of War picked Ford to mass-produce the Consolidated B-24 Liberator bomber at its Willow Run assembly plant. Ford Werke and Ford SAF , Ford's subsidiaries in Germany and France, respectively, produced military vehicles and other equipment for Nazi Germany 's war effort . Some of Ford's operations in Germany at
4280-613: The 1970s, manufactures the Transit Connect compact panel van as well as the "Jumbo" and long-wheelbase versions of the full-size Transit. This new production facility was set up near Kocaeli in 2002, and its opening marked the end of Transit assembly in Genk. Another joint venture plant near Setúbal in Portugal, set up in collaboration with Volkswagen , formerly assembled the Galaxy people-carrier as well as its sister ships,
4387-438: The 740/940 (from 1982 on) in the 15% better than average category, the second from the top category. In 2005, when the American non-profit, non-governmental Insurance Institute for Highway Safety (IIHS) released its first annual "Top Safety Picks" vehicles list, none of Volvo's offered vehicles in the US were included on the list. According to Russ Rader, a spokesman for IIHS, Volvo lagged behind its competitors. Dan Johnston,
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4494-541: The C70 featured a head-protecting airbag deploying upwards from the door, avoiding this problem. It has been stated by many testing authorities that side head protecting curtain airbags can reduce the risk of death in a side impact by up to 40% and brain injury by up to 55%, as well as protect occupants during a rollover. In 1998, Volvo introduced its Whiplash Protection System (WHIPS), a safety device to prevent injury to front seat users during collisions. In 2002, Volvo pioneered
4601-549: The Coupe de Dames (1936) and at Monte Carlo (1938). Ford Motor Company Ford Motor Company (commonly known as Ford ) is an American multinational automobile manufacturer headquartered in Dearborn, Michigan , United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln brand. The company
4708-544: The Detroit United Auto Workers union announced that after discussion with the leaders of General Motors , Ford, and Fiat Chrysler Automobiles , the carmakers would partially shut down factories on a "rotating" basis to mitigate the COVID-19 pandemic . On March 24, representatives of Ford announced that production in the US, Canada, and Mexico would not resume on March 30 as originally planned, amid
4815-592: The Ford Fund announced its official name has changed to Ford Philanthropy. Ford has had manufacturing operations worldwide, including in the United States, Canada, Mexico, China, India, the United Kingdom, Germany, Turkey, Brazil, Argentina, Australia, and South Africa. Ford also helped the Soviet Union to construct Russian automaker GAZ . In May 2010, Ford reported that its sales increased 23% for
4922-743: The Mercury in 1939 as a higher-priced companion car to Ford. Henry Ford purchased the Lincoln Motor Company in 1922, in order to compete with such brands as Cadillac and Packard for the luxury segment of the automobile market. In 1929, Ford was contracted by the government of the Soviet Union to set up the Gorky Automobile Plant in Russia initially producing Ford Model A and AAs, thereby playing an important role in
5029-585: The Models A , B, C, F, K, N, R, and S. Hundreds or a few thousand of most of these were sold per year. In 1908, Ford introduced the mass-produced Model T , which totaled millions sold over nearly 20 years. In 1927, Ford replaced the T with the Model A , the first car with safety glass in the windshield. Ford launched the first low-priced car with a V8 engine in 1932. In an attempt to compete with General Motors' mid-priced Pontiac, Oldsmobile, and Buick, Ford created
5136-592: The Mustang, due to declining demand and profitability. The Focus Active, a crossover SUV based on the newly unveiled fourth-generation Focus, was also intended to be marketed in the United States. Due to the vehicle being manufactured in China, Ford later announced that it would not release the Focus Active in the United States, due to tariffs imposed by the Trump administration on Chinese exports . In March 2020,
5243-717: The PAG, the company significantly expanded its range of vehicles. Ford, in turn, attempted with little market success to leverage synergies from Volvo, namely by sharing a re-engineered platform and many safety features from the Volvo S80 with the Ford Five Hundred (et al.). After Ford sold Jaguar Land Rover to Tata Motors of India in 2008, the company initially decided to keep Volvo Cars despite mounting losses and major economic downturns. Ford decided to restructure plans for Volvo Cars, pushing it further upmarket, alongside
5350-730: The Russian market. In this regard, the Swedish authorities began to discuss the possibility of a boycott of Volvo Cars. The discussion was initiated by the Ministry of Defense of Sweden. In November 2023, Volvo Cars announced the launch of an Energy Solutions business, beginning with a vehicle-to-grid (V2G) pilot programme in Gothenburg along with local power utility Goteborg Energi. In 2024, Volvo Cars scrapped its goal of becoming fully electric by 2030, adjusting its strategy due to industry challenges. In November 2024, Volvo Cars announced
5457-473: The U.S. Education programs and scholarships include Alan Mulally Engineering Scholarship, Ford Blue Oval Scholars Program, Ford College Community Challenge (Ford C3), Ford Driving Dreams Tour, Ford Fund/Detroit Free Press Journalism Scholarship, Ford Next Generation Learning (Ford NGL), Grants to Individuals Program, HBCU Community Challenge, Smithsonian Latino Center Young Ambassadors Program, and William Clay Ford Automotive Design Scholarship. On April 29, 2024,
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#17327796475495564-549: The UK switched to elsewhere in Europe, including Belgium and Spain as well as Germany. The Ford Sierra replaced the Taunus and Cortina in 1982, drawing criticism for its radical aerodynamic styling, which was soon given nicknames, the "Jellymould" and "The Salesman's Spaceship". In February 2002, Ford ended car production in the UK. It was the first time in 90 years that Ford cars had not been made in Britain, although production of
5671-558: The US gained momentum, with sales up 24% in 2015, while China was flat amid a challenging sales environment, but sales were up 11% in the fourth quarter. In July 2017, the automaker announced that beginning in 2019, all of its new models will include an electric motor in their powertrain. Implementation of the announcement could mean Volvo becoming the first manufacturer to end production of internal combustion -only vehicles, with all vehicles hybrid or electric powered. Between 2019 and 2021, Volvo plans to launch three electric cars under
5778-478: The US marking a record year for the company. The appearance of Japanese brands like Acura and Lexus and the growing popularity of Subaru station wagons in subsequent years meant the loss of a significant market share for Volvo, one which they have never regained. Volvo's long-time CEO Pehr G. Gyllenhammar saw early on that Volvo was too small to survive in the future, and attempted several times to merge with other manufacturers. Volvo nearly merged with Saab in
5885-507: The United States, Ghent in Belgium, and Daqing in China. Volvo was founded upon the concept of safety in 1927, in Gothenburg , Sweden: Cars are driven by people. The guiding principle behind everything we make at Volvo, therefore, is and must remain, safety. The company was created as a subsidiary to SKF . Assar Gabrielsson was appointed managing director and Gustav Larson technical manager . The trademark Volvo (which
5992-430: The Volvo 745 was recalled as the front seatbelt mounts could break in a collision. In 1998, Volvo installed a head-protecting airbag, which was made standard in all new models as well as some existing models. The IC head-protecting airbag was not available on the 1997 C70 since the initial design deployed the airbag from the roof, and the C70, being a convertible, could not accommodate such an airbag. A later version of
6099-663: The Volvo Museum, which opened in a permanent location in Arendal at Hisingen on 30 May 1995. For several years, the collection had been housed at the Blue Hangar, at the then closed Torslanda Airport . In 1999, Volvo Group decided to sell its automobile manufacturing business in order to concentrate on commercial vehicles, and to buy a 5% stake in Japanese automaker Mitsubishi Motors (with which Volvo Group along with
6206-399: The Volvo brand and two more under the Polestar performance brand. Volvo is one of the proponents of autonomous vehicles. On 20 November 2017, Uber announced that it planned to buy up to 24,000 Volvo cars designed to accept autonomous technology between 2019 and 2021. This non-binding intent includes a plan for Uber Advanced Technologies Group to design and build the self-driving system in
6313-420: The XC90 SUV. In 2016, the companies announced that they planned to collaborate on the design and financing of cars with self-driving systems. Such vehicles require a different type of steering and braking mechanism, as well as sensors. The CEO of Volvo Cars, Håkan Samuelsson, made this comment in an interview: "We get support developing this car ... It’s also a big commercial deal." Also in 2017, Volvo announced
6420-420: The board. His board members include vice-chairman Hans-Olov Olsson , a former president and chief executive of Volvo Cars, and Håkan Samuelsson , formerly chief executive of MAN . Under Geely ownership, Volvo has refocused its product lineup. The manufacturer has developed a new line of 3- and 4-cylinder diesel and petrol engines while eliminating larger engines. It has also developed a new vehicle platform ,
6527-429: The brand name 'Volvo' were manufactured but never released to the market, and it was not until 1927 that the trademark was used again, now as a trademark and company name for an automobile. The first Volvo car left the assembly line on 14 April 1927, and was called Volvo ÖV 4 . After this the young company produced closed top and cabriolet vehicles, which were designed to hold strong in the Swedish climate and terrain. In
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#17327796475496634-440: The burden of retiree health care from the company's books, thereby improving its balance sheet. This arrangement took effect on January 1, 2010. As a sign of its currently strong cash position, Ford contributed its entire current liability (estimated at US$ 5.5 billion as of December 31, 2009) to the VEBA in cash, and also pre-paid US$ 500 million of its future liabilities to the fund. The agreement also gave hourly workers
6741-440: The chief executive officer of the company in August 2020; he previously served as Ford's chief operating officer. Hackett stayed in the company as an advisor until the second quarter of 2021. Ford is mainly owned by institutional investors, who own around 60% of shares. The largest shareholders in December 2023 were: The Ford Philanthropy, formerly known as the Ford Motor Company Fund (also known as Ford Fund, not affiliated with
6848-421: The company until 2014. Ford also named Mark Fields, its president of operations in the Americas, as its new chief operating officer Mulally was paid a compensation of over $ 174 million in his previous seven years at Ford since 2006. The generous amount has been a sore point for some workers of the company. In April 2016, Ford announced a plan to modernize its Dearborn engineering and headquarters campuses through
6955-433: The company's history outside of Sweden, in Halifax, Nova Scotia, Canada . In 1964, Volvo opened its Torslanda plant in Sweden, which currently is one of its largest production sites (chiefly large cars and SUVs). Then in 1965, the Ghent , Belgium plant was opened, which is the company's second largest production site. This was also Volvo's first location producing cars within the European Economic Community . In 1989,
7062-400: The company; at the beginning the vaccination program would be in southeast Michigan, Missouri and Ohio, but it was to be expanded later on to other locations. In March 2022, Ford announced that it would restructure the company into three separate divisions. Ford Model E is to focus on electric vehicles; Ford Blue is to focus on internal combustion vehicles; and the existing commercial division
7169-642: The cost of credit default swaps to insure the debt of Ford was 68 percent of the sum insured for five years, in addition to annual payments of 5 percent. That meant $ 6.8 million paid upfront to insure $ 10 million in debt, in addition to payments of $ 500,000 per year. In January 2009, Ford reported a $ 14.6 billion loss in the preceding year, a record for the company. The company retained sufficient liquidity to fund its operations. Through April 2009, Ford's strategy of debt-for-equity exchanges erased $ 9.9 billion in liabilities (28% of its total) in order to leverage its cash position. These actions yielded Ford
7276-432: The development of a virtual crash test dummy representing a midsized pregnant female. It was named Linda and was modeled in her 36th week of pregnancy to analyze the effects of high-speed impact on the womb, placenta, and fetus. Collaborating with Chalmers University of Technology , they also crafted a computer model of an average-sized female to advance their Whiplash Protection System (WHIPS). In 2004, Volvo introduced
7383-473: The doors and into the safety cage. In 1994, to add to its SIPS, Volvo was the first to introduce side airbags and installed them as standard equipment in all models from 1995. At the start of the 1995 model year, side impact protection airbags were standard on high trim-level Volvo 850s, and optional on other 850s. By the middle of the production year, they were standard on all 850s. In model year 1995, SIPS airbags became standard on all Volvo models. In 1995,
7490-455: The electric Mustang Mach-E SUV. According to Thatcham Research, an automotive research company, this model is not a self-driving car. It is classified as a level 2 or partial automation assistance system. This means that technology controls two or more driving aspects but still requires human driver control in cases of emergencies. The driver is still legally responsible for accidents. In August 2024 Pennsylvania State Police filed charges against
7597-410: The first rear-facing child seat in 1964 and introduced its own booster seat in 1978. In 1991, the 960 introduced the first three-point seat belt for the middle of the rear seat and a child safety cushion integrated in the middle armrest. Also in 1991, it introduced the Side Impact Protection System (SIPS) on the 700 , 940 / 960 and 850 models, which channels the force of a side impact away from
7704-478: The formation of Ford Smart Mobility, a unit responsible for experimenting with car-sharing programs, self-driving ventures and other programs aimed at helping Ford better compete with Uber , Alphabet Inc. and other tech giants looking to edge in on the auto industry. On April 25, 2018, Ford announced that it would discontinue passenger cars in the North American market in the next four years, except for
7811-436: The further coronavirus pandemic spread. In the first quarter of 2020, Ford's sales dropped by 15%, entailing the loss of $ 2 billion. With the change in the demand for the sport vehicles, on January 6, 2021, Ford reported a sales fall of 9.8% in the fourth quarter, selling 542,749 vehicles, compared to 601,862 in 2019. In April 2021, Ford said that it would provide COVID-19 vaccines for its employees, who were to obtain them at
7918-551: The future of plug-in hybrids in terms of how home and vehicle energy systems will work with the electrical grid. Under the multimillion-dollar, multi-year project, Ford is to convert a demonstration fleet of Ford Escape Hybrids into plug-in hybrids, and SCE is to evaluate how the vehicles might interact with the home and the utility's electrical grid. Some of the vehicles are to be evaluated "in typical customer settings", according to Ford. William Clay Ford Jr. , great-grandson of Henry Ford (and better known by his nickname "Bill"),
8025-434: The gains, the company finished the year with a $ 2.7 billion loss, largely attributed to finance restructuring at Volvo . On June 2, 2008, Ford sold its Jaguar and Land Rover operations to Tata Motors for $ 2.3 billion. During congressional hearings held in November 2008 at Washington D.C., Ford's Alan Mulally stated that "We at Ford are hopeful that we have enough liquidity. But we also must prepare ourselves for
8132-478: The holding company. Ford Motor Company offered Volvo Cars for sale in December 2008, after suffering losses that year. On 28 October 2009, Ford confirmed that, after considering several offers, the preferred buyer of Volvo Cars was Geely Holding Group, the parent of motor manufacturer Geely Automobile . On 23 December 2009, Ford confirmed the terms of the sale to Geely had been settled. A definitive agreement
8239-488: The industry. Mulally stated that "In addition to our plan, we are also here today to request support for the industry. In the near-term, Ford does not require access to a government bridge loan. However, we request a credit line of $ 9 billion as a critical backstop or safeguard against worsening conditions as we drive transformational change in our company". GM and Chrysler received government loans and financing through T.A.R.P. legislation funding provisions. On December 19,
8346-513: The intention to establish a 50/50 joint venture consisting of a battery gigafactory and R&D (research and development) center. In December 2021, it was revealed the battery R&D center would be located in Gothenburg. In February 2022, Gothenburg was also chosen as the location for the battery gigafactory. During 2021 and 2022, Volvo Cars transferred its hybrid engine research and production capabilities in Skövde and Zhangjiakou to Aurobay , in
8453-400: The job security they were seeking by having the company commit to substantial investments in most of its factories. The automaker reported the largest annual loss in company history in 2006 of $ 12.7 billion, and estimated that it would not return to profitability until 2009. However, Ford surprised Wall Street in the second quarter of 2007 by posting a $ 750 million profit. Despite
8560-585: The largest family-controlled companies in the world. The first gasoline-powered automobile was created in 1885 by the German inventor Karl Benz , with his Benz Patent-Motorwagen . More efficient production methods were needed to make automobiles affordable for middle class people. To which Ford contributed by, for instance, introducing the first moving assembly line in 1913 at the Ford factory in Highland Park . Between 1903 and 1908, Ford produced
8667-597: The late seventies, while in 1978 an aborted affair would have seen the Norwegian state take over 40 percent of the company. In return, Volvo would receive 200 million SEK and a ten percent concession in the Oseberg oil field . Major institutional actors in Sweden opposed the deal and blocked it. A deal to merge with Renault was blocked in 1993, mainly opposed by a Swedish stockholders' association. A collection of Volvo's most important historical vehicles are now housed in
8774-448: The lower end of Mercedes and BMW sedans, wagons, and SUV crossovers. The outcome was the luxurious second generation Volvo S80 and the new small premium crossover Volvo XC60 . When the global economic crisis of 2008 threatened the US automakers, Swedish authorities became concerned about the fate of Volvo, should Ford file for bankruptcy. These concerns mounted after repeated mass-layoffs at Volvo. In December 2008, Ford announced that it
8881-541: The mid-to-late 1990s, Ford continued to sell large numbers of vehicles, in a booming American economy with a soaring stock market and low fuel prices. With the dawn of the new century, legacy health care costs , higher fuel prices, and a faltering economy led to falling market shares, declining sales, and diminished profit margins. Most of the corporate profits came from financing consumer automobile loans through Ford Motor Credit Company . By 2005, both Ford and GM 's corporate bonds had been downgraded to junk status as
8988-557: The model that has come to be known as the Matford Alsace, with a choice of a 2,225 or 3,622 cc V8 engine: a cabriolet was also listed. The 1937 models were generally known at the time simply as the Matford 13CV and the Matford 21CV which followed the convention of the time by using the cars' fiscal horse power ratings as model names. Both featured a V-shaped windscreen and in 1938 a US style timber bodied estate car joined
9095-490: The month, and that 37% of its sales came from fleet sales. In June 2010, sales to individual customers at dealerships increased 13% while fleet sales rose by 32%. In the first seven months of 2010, fleet sales of Ford for the same period rose 35% to 386,000 units while retail sales increase 19%. Fleet sales account for 39 percent of Chrysler's sales and 31 percent for GM's. At first, Ford in Germany and Ford in Britain built different models from one another until 1965, when
9202-473: The past two years and will lose a similar amount in 2023 as the company looks to significantly invest in Electric Technology. The Ford Model E is expected to be profitable by 2026. In April 2023, United Kingdom ministers approved Ford's BlueCruise technology. Because of this assisted driving technology, Ford drivers can now legally take their hands off the wheel on certain roads. Its top speed
9309-549: The profitable American market. The first Volvos arrived in the United States in 1955, after the hardware wholesaler Leo Hirsh began distributing cars in California. Later, Texas was added, and in 1956, Volvo themselves began importing cars to the US. North America has consistently provided Volvo with their main outlet since. In 1963, Volvo opened the Volvo Halifax Assembly plant, the first assembly plant in
9416-407: The prospect of further deteriorating economic conditions". He went on to state that "The collapse of one of our competitors would have a severe impact on Ford" and that Ford Motor Company supported both Chrysler and General Motors in their search for government bridge loans during the 2008–2010 automotive industry crisis . Together, the three companies presented action plans for the sustainability of
9523-631: The range. The steel car bodies were purchased from the coachbuilders Chausson rather than being built inhouse. Volume passenger car production ended in 1940 with the buildup of truck orders for the French army, though an unknown number were made during the German occupation, at least till 1942. Under the occupation, because of its proximity to the German border, the contents of the Matford Stasbourg factory were moved to Ford's Cologne plant, while
9630-547: The registration application for Volvo logotype in 1927, they simply made a copy of the entire radiator for ÖV4, viewed from the front. The round logo with the arrow pointing to the right ( ♂ ) is the Greek alchemical symbol for iron . Presented in 1944, the Volvo PV444 passenger car only entered production in 1947. It was the smallest Volvo yet and became the most produced car that Volvo made, and spearheaded Volvo's move into
9737-549: The retirement of president and chief operations officer Jim Padilla in April 2006, Bill Ford assumed his roles as well. Five months later, in September, Ford named Alan Mulally as president and CEO, with Ford continuing as executive chairman. In December 2006, the company raised its borrowing capacity to about $ 25 billion, placing substantially all corporate assets as collateral. Chairman Bill Ford has stated that "bankruptcy
9844-501: The sale of its 30&% stake in Lynk & Co to Zeekr , at a price of RMB 5.4 billion. Volvo cars have long been marketed as safe and the company has stressed their historic reputation for solidity and reliability in marketing campaigns. Volvo uses high-tech safety systems as standard equipment in new vehicles. Prior to strong government safety regulation Volvo had been at the forefront of safety engineering. In 1944, laminated glass
9951-555: The second generation of Volvo C70 , which came with extra stiff door-mounted inflatable side curtains (the first of its kind in a convertible) dubbed 'DMIC'. Volvo's safety systems remained standard on all Volvo vehicles while under ownership of Ford Motor Company. Volvo had patented many of its safety innovations, including SIPS , WHIPS , ROPS , DSTC , and body structures. Some of these systems were fitted to other Ford and Premier Automotive Group vehicles in forms similar to those of Volvo systems. A 2005 Folksam report, put
10058-487: The time were run using forced labor . The creation of a scientific laboratory in Dearborn, Michigan, in 1951, doing unfettered basic research, led to Ford's involvement in superconductivity research. In 1964, Ford Research Labs made a key breakthrough with the invention of a superconducting quantum interference device or SQUID . Ford offered the Lifeguard safety package from 1956 , which included such innovations as
10165-733: The use of this brand name was discontinued with the introduction of the Ford Transit in 1965. Elsewhere in continental Europe, Ford assembles the Mondeo, Galaxy , S-Max and Kuga in Valencia (Spain), Fiesta in Cologne (Germany), Focus in Saarlouis (Germany), Ecosport and Puma in Craiova (Romania). Ford also owns a joint-venture production plant in Turkey. Ford Otosan , established in
10272-668: The voting rights. During the 2008–2010 automotive industry crisis , the company struggled financially but did not have to be rescued by the federal government, unlike the other two major US automakers. Ford Motors has since returned to profitability, and was the eleventh-ranked overall American-based company in the 2018 Fortune 500 list, based on global revenues in 2017 of $ 156.7 billion. In 2023, Ford produced 4.4 million automobiles, and employed about 177,000 employees worldwide. The company operates joint ventures in China ( Changan Ford ), Taiwan ( Ford Lio Ho ), Thailand ( AutoAlliance Thailand ), and Turkey ( Ford Otosan ). Ford owns
10379-652: The world as Fordism . Ford's former UK subsidiaries Jaguar and Land Rover , acquired in 1989 and 2000, respectively, were sold to the Indian automaker Tata Motors in March 2008. Ford owned the Swedish automaker Volvo from 1999 to 2010. In the third quarter of 2010, Ford discontinued the Mercury brand, under which it had marketed upscale cars in the United States, Canada, Mexico, and the Middle East since 1938. Ford
10486-495: Was appointed executive chairman in 1998, and also became chief executive officer of the company in 2001, with the departure of Jacques Nasser , becoming the first member of the Ford family to head the company since the retirement of his uncle, Henry Ford II , in 1982. Ford sold motorsport engineering company Cosworth to Gerald Forsythe and Kevin Kalkhoven in 2004, the start of a decrease in Ford's motorsport involvement. Upon
10593-431: Was completed at a price of US$ 6.45 billion. As a result of the divestiture , the Volvo trademark was used by two separate companies: Volvo Group completed its 5% deal with Mitsubishi in November 1999, but sold its stake back to Mitsubishi Heavy Industries in March 2001. Volvo Car Group was part of Ford Motor Company's Premier Automotive Group (PAG), along with Jaguar , Aston Martin and Land Rover . While part of
10700-441: Was considering selling Volvo Cars. Initially, a sale price of US$ 6 billion was reported. Ford said it was also looking into the possibility of spinning off Volvo as an independent company. The Swedish government was asked to look into a possible state ownership of Volvo, or a financial bailout for Volvo Cars and SAAB of GM. Former parent AB Volvo agreed to help Volvo cut costs through partnerships, and suggested taking part in
10807-425: Was created under the name of Matford S.A. , formally created on 1 October 1934, and owned by Ford and Matthis in the proportion 60:40. The initial cars were locally assembled versions of contemporary American and British Ford models. The intention had been expressed to produce the Matford models alongside those from Mathis but the last Mathis was actually made in October 1934, which was also the month in which Matford
10914-586: Was formally founded. During 1935, under the energetic direction of Maurice Dollfus who had joined Ford in 1930, Ford poured massive amounts of capital into modernising the Strasbourg plant. There were high hopes for the Matford collaboration which, in 1934, was expected to last for fifty years. In 1935 a range of V8-engined Matfords was put on the market which were very similar to the American Ford Model 48s with their V-8 3,622 cc (221 cu in) engines. A French version appeared in 1936 as
11021-518: Was going to cut 3,800 jobs across Europe, with the job cuts mainly focusing on their German and British workforce. Ford will be cutting 2,300 jobs from Germany, 1,300 from the United Kingdom, and an additional 200 jobs in the rest of Europe, according to the head of Ford Germany, Martin Sander. The cuts will mainly be done to the company's engineers. Ford also announced during the year that their electric vehicle business had lost $ 3 billion before taxes over
11128-460: Was introduced in the PV model. After Vattenfall engineers presented their pioneering work to Volvo in the 1950s, Volvo engineer Nils Bohlin invented and patented the modern three-point safety belt , which became standard on all Volvo cars in 1959, and then made this design patent open in the interest of safety and made it available to other car manufacturers for free. Additionally, Volvo developed
11235-552: Was introduced on April 17, 1964, during the 1964 New York World's Fair , where Ford had a pavilion made by The Walt Disney Company . In 1965, Ford introduced the seat belt reminder light. With the 1980s, Ford introduced several highly successful vehicles around the world. During the 1980s, Ford began using the advertising slogan, "Have you driven a Ford, lately?" to introduce new customers to their brand and make their vehicles appear more modern. In 1990 and 1994, respectively, Ford also acquired Jaguar Cars and Aston Martin . During
11342-511: Was responsible for the manufacture and sale of the famous Continental Mark II . At the same time, the Edsel division was created to design and market that car starting with the 1958 model year. Due to limited sales of the Continental and the Edsel disaster, Ford merged Mercury, Edsel, and Lincoln into "M-E-L," which reverted to "Lincoln-Mercury" after Edsel's November 1959 demise. The Ford Mustang
11449-644: Was signed on 28 March 2010, for US$ 1.8 billion. The European Commission and China's Ministry of Commerce approved the deal on 6 and 29 July 2010, respectively. The deal closed on 2 August 2010 with Geely paying $ 1.3 billion cash and a $ 200 million note. Further payments are expected with a later price "true-up". It is the largest overseas acquisition by a Chinese automaker. Stefan Jacoby , formerly chief executive of Volkswagen of America , became Volvo Car Group's president and chief executive on 16 August 2010, replacing Stephen Odell, who became chief executive of Ford Europe . Li Shufu became Volvo Cars' chairman of
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